Tech companies continue to go public: Rubicon, 3Par, InternetBrands
Despite the rocky stock market lately, technology companies continue to go public, including Rubicon Technology and 3Par, which showed relatively strong results.
Rubicon Technology, a Franklin Park, Ill. company that makes materials for things light-emitting diodes (LEDs), saw its stock rise 25 percent after opening Friday, closing at $17.50 a share.
3Par, a Fremont, Calif., maker of storage systems for large companies, rose 13 percent to close at $15.75 a share. We’ve covered the company before (see our coverage, where we mention it faces many competitors, several of which are going public; on the other hand, it boasts “virtualization” technology, which gives it some buzz). Its customers include the U.S. Census Bureau and social networking company MySpace.com. It continues to lose money, however.
Internet Brands, an El Segundo, Calif. company that operates dozens of web sites in various consumer-retail segments, also went public, but traded flat.
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